Bucher dives into the details of all of the players involved in this potential blockbuster deal (via ESPN.com):

The Cavaliers would land Lakers center Andrew Bynum for a package of draft picks and veteran power forward Anderson Varejao, according to one league source. The Lakers would receive Howard for Bynum. Orlando would get Varejao and draft picks. The source said this was merely the framework of a deal being discussed.

This is good news for the Lakers.

If they are indeed ready to part ways with Bynum (which owner Jim Buss recently said he wasn’t via Lakers.com), now is a good time.

Who knows how his knees will hold up—which is not a good question to ask when discussing a 24-year-old. He is coming off the best year of his career, and his stock has never been higher.

If they only need to surrender Bynum for the finest center since Shaquille O’Neal, then they have to pull the trigger.

But the ball really isn’t in their court right now. It’s all about the third team and what they can offer Orlando.

The Cavs could potentially offer a young talent like Tristan Thompson or Dion Waiters as well, speculates Matt Moore of CBS Sports.

This is a better deal than the one presented by the Rockets, who essentially were offering cap relief, a bevy of average-to-decent players and a few rookies (via ESPN.com). This was before inking Jeremy Lin to a three-year, $25.1 million deal.

The Cavs have more young talent and a proven veteran who can help right away in Orlando.

The Lakers are set on what they can bring to the table in a potential Howard deal. It’s all about the third team appeasing to the interests of Orlando to get this deal finished.

Until a package emerges that blows new Magic general manager Rob Hennigan away, teams will have their chance to toss proposals on the table.